MO HB451

Requires completion and delivery of a mortgage value disclosure statement to the county assessor before any deed transferring residential, commercial, or industrial real property can be recorded in Missouri.

Mortgage value disclosure statement must include whether the transaction was at arm's length, the full actual consideration paid or to be paid, and the actual or intended use of the property.

The grantee, their attorney, real estate agent, broker, or title company is responsible for delivering the statement to the assessor, with a $10 filing fee required.

Exempts 16 categories of transfers from the disclosure requirement, including gifts between family members, court-ordered transfers, government transfers, foreclosures, and transfers executed before January 1, 2012.

Information contained in disclosure statements is confidential and exempt from public disclosure, but may be used by assessors for reassessment purposes and by the state tax commission for statistical purposes; effective January 1, 2012.